property value

[Jay504]

I am building a detached in-law unit on my property and am considering becoming an airbnb host. I sent my neighbors an email to notify them of my intent. I learned that many of my neighbors are upset at this prospect and plan to oppose my permit with the city on the grounds that it will adversely affect their property value. Does anyone have any data that supports or disproves their assertion that having an airbnb nextdoor will impact neighborhood property values? Thank you!  

[Emily487]

@@Jay504 

I have no data and they probably do not either. But they clearly have lots of concerns.  Pi&&ed off neighbors are not the kind of neighbors you want.  Would you be able to long term rent the unit instead?

[Jay504]

Yes, long term rental is my Plan B, but I really want to do airbnb. I am going to fight this battle and let the city decide. Thank you! 

[Sarah977]

@Jay504  I don't have data either, but maybe you could contact your neighbors again and explain to them that the only way having an Airbnb listing would negatively affect property values is if you were renting out an entire home where you didn't live. That those are the type of listings that attract partiers and cause problems for neighbors. But since you live on the property, you wouldn't be getting guests like that- you will be right there to make sure that guests don't cause any disturbance or nuisance, as that would not be acceptable to you either. Encourage the neighbors to contact you with any specific concerns they might have so you have an opportunity to address those.

Being pro-active, solicitous and even a bit sucky may turn a lot of them around. But of course there's always those naysayer types who dig in their heels and refuse to listen or consider anything.

[Kaylee18]

@Jay504  Ignore the neighbours. Airbnb is a fantastic business opportunity if done right. Just make sure you follow your cities bylaws, etc (that way your neighbours cant report you, etc). 

You can always explain to them you will be living on the property too, and if they have issues to come to you. I find a lot of neighbours are more concerned about safety and not knowing who "these people" are.  For that reason I suggest to all hosts to install outdoor cameras! Even if you live on the property. It shows your neighbours that you care about security and if anything goes wrong with a guest, they will be on camera (for identification purposes).